The House has directed its committees on finance and petroleum resources (upstream) to conduct a comprehensive investigation on all NNPCL joint venture operations over alleged $60 billion revenue loss The House of Representatives is set to probe the Nigerian National Petroleum Company Limited (NNPCL) for the alleged loss of $60 billion to inflated cash call payments on Joint Ventures (JVs) over the years. This resolution followed a motion which highlighted the “need to investigate the...
The House resolved that Nigeria could rake in substantial revenues to fund annual budgets if proper valuation of federal government assets is undertaken The House of Representatives on Tuesday resolved to task relevant authorities to begin the enumeration and valuation of public assets in a bid to ascertain their worth. It also mandated its committees on finance, and public assets to ensure compliance, and investigate the management of assets by Ministries, Departments and Agencies (MDAs)...
The legislators believe the N10billion for out-of-school children was mismanaged and resolved to investigate what went wrong The House of Representatives has resolved to investigate how the sum of N10 billion was disbursed to take out-of-school children off the streets under the President Muhammadu Buhari administration. This decision was sequel to a motion on the “need to investigate funds disbursed for the alternative school programme, better education service delivery for all, at risk children programme...
The House of Representatives committee on information has urged for increased funding for the ministry of information by aggregating all media budgets under its purview The House of Representatives committee on information has called on the President, Bola Ahmed Tinubu, to ensure that there’s an increase in the funds allocated to the ministry of information in the 2024 budget. Expressing concern about the N2.59 billion budgetary allocation of the ministry, the committee asked for an...
The House of Representatives committee said it would avail WAEC another chance to appear before it on Thursday, December 21, 2023 owing to the board’s absence at session billed for today The House of Representatives committee on basic education has summoned the West African Examinations Council (WAEC) over the absence of its officials at the 2024 budget defence hearing. The committee ordered the examination board to appear before it on Thursday, December 21, 2023 by...
In a rare occurrence, the House of Representatives says to sit on Saturday, and the sole agenda will be to pass the 27.5 trillion appropriation bill for the 2024 fiscal year The House of Representative will pass the 2024 appropriation bill on Saturday, December 23, 2023. TheSpeaker, Rep. Tajudeen Abbas (APC, Kaduna), disclosed this at the plenary session on Tuesday. He urged the lawmakers to ensure that they are present for the passage of the bill...
Unexplained wealth should be confiscated to help curb illicit financial flow and other corrupt practices, argues the EFCC The Economic and Financial Crimes Commission (EFCC) has called for the adoption of the Unexplained Wealth Order (UWO), which mandates people to reveal the sources of their unexplained wealth. According to the EFCC chairman, Mr. Ola Olukoyede, establishing legislation against unexplained wealth will check fraud, corruption and other criminal activities in the country. He urged this while...
The joint committee also suggested that the president, who is the substantive minister of petroleum, is also expected to appear to defend propositions in the 2024 budget The National Assembly joint committee on Petroleum Resources has summoned the minister of state for petroleum resources, Sen. Heineken Lokpobiri and minister of state for gas, Mr. Ekperikpe Ekpo, to appear before it on Monday, December 18, 2023. The committee members reached the decision on Thursday, December 14, 2023,...
The minister says N29 billion allocated to solid minerals development in the 2024 budget is a drop in the ocean if Nigeria must diversify the economy away from hydrocarbons The Ministry of Solid Mineral Development has solicited for an increased budgetary allocation to ensure adequate funding for the exploration of solid minerals in the country. According to the Minster, Mr. Dele Alake, an increased allocation is the only way to ensure the ministry generates more...
The dire fiscal state of the country does not allow for vital production and sales data of crude oil to remain shrouded in secrecy, says Minister Edun The Ministry of Finance had called for a transparent resource management system that allows it to track the production and sales of the country’s petroleum resources. The ministry also emphasised the need to monitor the conversation of petroleum revenue from dollars to naira. The minister of finance, Mr....
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